The Dangote Refinery is set to begin supplying 25 million liters of petrol daily to the Nigerian market starting September 2024, according to the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA). The refinery is now poised to supply an initial 25 million liters of PMS into the domestic market this September. And will subsequently…
There are indications that Nigerians are in for harder times as the Nigerian National Petroleum Corporation Limited (NNPCL) has increased its pump price to N855 per litre. This comes just as the NNPCL management admitted that it was facing a debt challenge to the tune of $6 billion from its supply chain abroad. While the…
Former Labour Party, LP, presidential candidate in the 2023 presidential election, Peter Obi, has called on Nigerians to demand transparency from the Nigerian National Petroleum Company Limited, NNPCL, over the true state of petrol subsidy payments. In a post via his X handle on Tuesday, Obi said that NNPCL has so far presented ‘conflicting’ reports…
The President of Dangote Group, Aliko Dangote, has revealed that the Premium Motor Spirit (Petrol) will be available in the Nigerian market in 48 hours, depending on the Nigerian National Petroleum Company Limited. The African richest man disclosed on Tuesday an interview with Channels Television while officially announcing first the rollout of Petrol from its…
Former Vice President Atiku Abubakar has demanded the immediate listing of the Nigerian National Petroleum Corporation Limited (NNPCL) on the stock exchange in line with the Petroleum Industry Act, PIA. Atiku said the demand follows the decision of the NNPCL to hand over the Warri and Kaduna refineries to private operators. According to him, the…
Martin Onovo, Petroleum Engineer and presidential candidate of the defunct National Conscience Party, NCP, in the 2015 general elections, said that the Nigerian National Petroleum Company and President Bola Ahmed Tinubu should seek more loans to end the ongoing Premium Motor Spirit (Petrol) Scarcity. Onovo disclosed this on Tuesday in a Channels Television interview while…
Former Vice President Atiku Abubakar has criticized the Nigerian National Petroleum Company Limited (NNPCL) for its lack of transparency after the company disclosed a $6 billion debt to petrol suppliers. This revelation, made public on Sunday, September 1, has shed light on the fuel scarcity that has affected the nation for the past six weeks….
The Nigerian National Petroleum Company Limited (NNPCL) has acknowledged financial difficulties, which may lead to an increase in the pump price of Premium Motor Spirit (petrol). NNPCL spokesperson Olufemi Soneye revealed that the company is facing significant strain from fuel supply costs, threatening the sustainability of its fuel supply. This admission confirms reports that the…
The Nigerian government has revealed plans to hire an external auditor to review the Nigerian National Petroleum Company Limited’s N2.7 trillion fuel subsidy claim. This is according to recent minutes of the Federal Allocation Account Committee , The minutes stated that the yet-to-be-named auditor would assist the Office of the Auditor-General of the Federation in…
Oil producers under the aegis of the Independent Petroleum Producers Group have told the Nigerian National Petroleum Company Limited that they cannot be forced to sell their products to Dangote Petrochemical Refinery Company and other local refineries. The Chairman of IPPG, Abdulrazak Isa, made the position of the group known in a letter he signed…
